Shiba Inu Spots Bullish Reversal Pattern as Inverse Head and Shoulders Nears Completion

▲ Shiba Inu (SHIB)

Shiba Inu (SHIB) is drawing heightened investor attention as it approaches the final hurdle to complete an inverse head-and-shoulders pattern, a powerful bullish reversal signal on the chart.

According to crypto media outlet The Crypto Basic on February 20 (local time), Shiba Inu has recently halted its downtrend and is forming a technically significant inverse head-and-shoulders pattern, a classic bottom confirmation signal that appears at the end of a bearish trend. Analysts suggest that if SHIB breaks through a key resistance level, it could mark the beginning of a full-fledged price rally.

The critical level in Shiba Inu’s current price structure is the neckline resistance near $0.0000078. SHIB formed its left shoulder around $0.0000061 and its head at approximately $0.0000057, and is now attempting a rebound while completing the right shoulder. A breakout above $0.0000078 accompanied by strong trading volume would serve as a decisive confirmation of the pattern’s completion.

If Shiba Inu successfully surpasses this resistance, the short-term price target could be set at $0.0000095, corresponding to the 38.2% Fibonacci retracement level. Furthermore, a break above the psychological resistance at $0.00001 could open the door to a repeat of its past explosive rallies. The Relative Strength Index (RSI) has also moved out of oversold territory, indicating that buying pressure is gradually strengthening.

Increased token burn activity through Shibburn, an internal ecosystem metric, is also supporting price stability. The combination of a declining supply and a favorable technical pattern is transforming Shiba Inu from a simple meme coin into an asset with tangible investment value. Amid sustained Bitcoin (BTC) market dominance, SHIB’s independent technical breakout attempt is stimulating bullish sentiment among market participants.

Currently, Shiba Inu is building strong support near the right shoulder while consolidating upward momentum. If liquidity enters the market and the resistance level is breached, SHIB is expected to fully end its downtrend and enter a new upward channel.

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